Gabriel Holding A/S - first quarter of the 2023/24 financial year

Summary:

Gabriel Holding maintains its expectations for the financial year after a first quarter with revenue and earnings realised at the upper end of the range of expectations.

Selected financial ratios and comments:

Growth was realised in the Group's global fabric business in the quarter. As expected, there was a small decrease in revenue from the furniture upholstery units (FurnMaster)The Group's total revenue was DKK 227.7 million (DKK 241.6 million) which was at the upper end of the range of expectationsThe expectations for the 2023/24 financial year are maintained after the first quarterEarnings before depreciation, amortisation and impairment losses (EBITDA) were realised at DKK 15.9 million (DKK 19.8 million)Operating profit (EBIT) was DKK 3.2 million (DKK 8.1 million)The result before tax was DKK -3.0 million (DKK 3.7 million)Cash flows from operating activities in the period were positive at DKK 26.6 million (DKK 2.0 million)EBITDA margin was 7.0% (8.2%)EBIT margin was 1.4% (3.4%)Return on invested capital (ROIC) was 2.3% (6.1%)

Expectations for the full year 2023/24

Management expects that revenue will be of the order of DKK 850 - 900 million and operating profit (EBIT) of the order of DKK 0 - 10 million, that finance income and costs will continue to be negative in 2023/24 and anticipates a negative result before tax but a positive cash flow.

Attachment

Gabriel Holding AS - Announcement no . 1_ Q1 2023-24

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